tv Quadriga - The International Talk Show LINKTV March 16, 2018 7:00am-7:31am PDT
>> hello and welcome to qadrigo does welcome to quadrigo. with the signature of president trump, on tariffs of steel and aluminumum. that sparked an outcry of allies in trading partners. some arere threatening r retalin and others are lobbying for exemption. critics say the move could launch a tit-for-tat spiral with consequences for joe -- - for jobs in growth.
donald trump says he is fixing a broken system to make sure trade is fair. trade war: trump against the world. that is our title today. he says there will be a limited economic and the superpower, the u.s., can afford trade wars. says president trump does not understand the complexity of trade and global markets. and it is a pleasure to welcome andreas kluth to the program. he's the editor in chief of handelsblatt. he says donald trump is behaving ake a preschool bully in sandbox and that europe must not rise to his
provoking movements. steal the bank is a perennial topic during trade discussions, not only for the u.s. and this administration. this is hardly the first time the u.s. has imposed protective tariffs. so, why is this time any different or worse? >> you're right, this is a classic move and other presidents have done it. we know from studies that it almost always backfires economically because america --thes american economy suffers tariffs imposed on others. i hope this blows over because of you have noticed, donald trump is a man of bluster and his dark can be bigger demand his bite. he probably wants to make a big show, to call himself a victor and hopefully, retreat before it
turns into a full-blown trade war of the sort that was started in the 1930's. i hope the european union should not overreact already. to the first round of his national security tariffs. >> brief a follow-up question, in terms of how we can expect donald trump to bark and bite in the future. the rex tillerson breaking news this week, of course, does that encourage you to be optimistic about the likelihood that donald trump with crackdown, or rather less? >> if all the signals are of course, towards pessimism at the moment -- everyone has read "fire and fury," but in general -- >> that being the book about the insider feelings from the white house. >> steve bannon is now touring europe.
recently again, the hardliners, gary cohn left, protesting because of these riffs.t the more reasonable people thing to be leaving in a hurry. >> one thing that definitely is different this time around is that the administration is looking to impose these tariffs and is led by a president that has openly questioned the rule-based order of international trade, namely the world trade organization. n we see the entire system coming down. >> i think we should be worried and it relates to the moderates leaving we have a president now that is impulsive and is likely to go to extremes. and who i do not think only barks. he is impulsive.
what worries me most is he does not look at the picture. he asked on little details in impulsive moves, like the steel tariffs, because they sounded good. immediately he heard back from other industries, like the automotive industry. they have a huge problem with it because they are buyersof steel and aluminum. for the next step, he immediately put tariffs on mercedes-benz cars and bmw's. this is not looking at the big picture. if you look at trade between the eu and u.s., this as the runway,
picking on the one topic here and there. >> just pushing a bit onlooking at that big picture. trump says this rule-based ten workshe wto, of to the advantage of those who do not play by the rules, namely very often china. isn't there something to that argument and to the idea that free trade is by no means always fair trade. and i think that is the reason so much work been on the bilateral and multilateral trade treaties going, for example the tpp. >> the transpacific trade agreement. >> yes, the trade agreement between the united states and europe. that was already the reaction to the wto. and, there was a question.
does notly, every time comply with the rules, in the sense that they always pay andidies to put leave these that is something the united states, as well as the eu, have reacted to. we already have tariffs coming from china. it is not the case that the europeans oriented states do not react. now is donaldent trump is not targeting specifically china, saying, you will pay subsidies and for that season, specifically tariff will be higher than before. up until now, we a already had a 41 different tariffs for the steel industry in the united states. it is not the first to be imposed. before we had a trade deficit, which is true, and now i have
got to crush all of that, and have tradeon my own behaving differently. new topicel is not a for donald trump. .> no >> he signed his steel tariff the presence of workers using habitats. those who put him in the white house. and state of the salinity is to be one of the main still present centers in the united states. sut a number of steel plantz have been forced to close and thousands of workers have lost their jobs. china has been selliling steel n the international mamarket at cut-rate prices. in 2000, the u.s. and china
produced half of all the world's steel. promised toump has revitalize the u.s. steel industry and create new jobs. and that is why he has ordered and we have -- that is why he has ordered these tariffs on steel and aluminum. reporter: 45% on steel and 10% on aluminum. trying to put a stop to cheap imports of these products. but will these tariff actually help the american steel industry to recover? to ulriket me go back herrmann and go back to the opening statement. you said the u.s. can afford a trade war and donald trump has tweeted the same thing.
but, can the u.s. really afforded. webs and far more are looking at the united .tates, a continent of itself to just put it differently, we have the import and export of 7% of the gdp.is that is very little compared to other countries. in german, exports are 50% of . and the the u.s u.s. has 320 million customers, mostly producing everything by itself. a trade war with
the united states. a tradecould never make war. it would kill the economy and that is not true for the united states. who create reason this trade war. reagan is still very popular and that is exactly what donald trump knows, that politically and economically, it is always a good idea for the president to start a trade war. you can count on donald trump by stating a world trade war. we are being seen by many people , as this is shot largely across side.'s
additionalcould sink boats. these tariffs are targeted at china under a u.s. law called property01, all under theft by china. it is through a variety of means. could a tougher u.s. trade stands vote for the tariffwtzs and this topic had to come up sooner or later anyway. it is too bad that a president named donald trump has to bring it up in a particular way. but china, if you look at the
economic policy, and not just the trade policy, it is a catalyst in this nationalistic holocene. president only has 2.0,come president mao but like the united states, they have a long-term plan to project economic power, of which the biggest element is called one b elt, one raod, the new silk road they use the foreign investment to project economic power through the eurasian landmass in africa. they bought up the port of courageous and later announced -- very controversially so, not just to finance tech companies for the city grid, but a secret base, the late, but
described the agency. but,it comes to forward when we are looking at china, it is about more than trade and we have got to bring this up. we have got to get them to the table and say, we are paying attention and we have got to talk about this, so maybe this is the way to do it. situations where, taking unorthodox measures might influence away to country not playing by the rules. it comes to when china, it is anybody who agrees with how that is working. on message. if they want to buy stakes in other companies, they are and it isy
-- aitely a ver very different situation whether you look at the trade in the u.s. and china or the eu and the u.s. you cannot even compare those battlegrounds. it is no secret that china5 nina: is not playing nina: by any rules. they do not allow for investment inside their country, but they take for an investment elsewhere. of course, there is a great imbalance and in donald trump's terms, a great deal of unfairness. now, the fact is, as we just mentioned, i come to the and it feels like these new tariffs are a white cast shot that could ng others andi
the initial reaction after the .nnouncement of these it looked like these shots were global, measuring the threads of these measures from the speaker of eurasian. . . it can only bring disaster to china, the u.s. and the entire world. china does not want a trade war. aluminumf steel and from japan do not pose a threat u.s. national security and they have contributed to the industry and employment within the u.s. it is so, andreas kluth kind of interesting to see the products that mr. junker is
citing. bourbon and harleys? >> and mentioned, it is the sandbox earlier. . theere is the surprise over products. the european union has picked the harley davidson and bourbon and oranges, specifically things that are not only immigration rules, but it has hurt the industries that have republicans donald trump has been suffered through the industry this way. of treating these people in such a way. i think they are trying to pinpoint and they are and they are trying to focus on trade in this way. peter: you said in your opening statement that the eu should not
rise to the opening provocation. do you think these measures would go too far if he resided to these. if you do not think they should ander we have the 28th. in germany, you will notice, is urging caution and it is people, like mr. junker who are more aggressive. during a moment like this, you have got to remember. donald trump seems to be going after the german carmakers. . at some point, we have got to look at this cute donald trump with a steel victory.
. and we are looking at me free trade is planted area and perhaps, the pacific one that donald trump has stupidly pulled out of. it was a trade area that excluded china and imported in america. now it exports america, which is the exact opposite. the growth with the industry is to show him the toolkit, which -- which show the industry packing itself. it looks likely eu and a germany precaution for astands .
and, european countries, similar to what washington is now .alking about and of course we have tried to minimize the risk and the dangers. havehat is because they picked out the industry before .hese administration and of course, we are looking at another book, comical the at them, who as looked this a mateake flyer friday industry. \, he is only really french
snd before we have these tariff now, hey have the last is just come around since yesterday to apparently understand that president trump is of course, right all along. so much for advising the president. some far. donald trump has preached away this has been focusing the right opinion. he is not finish as a present and for those holding in line,
he surprises so much he would proper these administration. and somehow the german carmaker everybody's life. >> open of the barriers and get rid of the tariffs. and if we do not do that, we will attack mercedes-benz and be paid for the donald trump administration is promoting or provoking essentially a freeze and speech into an all he -- into the all out trade war.
but in the anybody ever wins during a trade war. over the trade war regarding the trade war and long some trade war. he does not understand the complexity of the market. he is correct that american cars have a higher tariff in europe. but it is great lent -- but it is the craig that does have the commitment to tariffs in airs. s. could get tariff lookij to europe . it looks like the charlie's to accept the first
♪ be poor in a rich country. in a single night in 2017, there were more than half a million homeless people in the u.s. how did it come to this? if you only work hard enough, and are willing to keep learning, you can achieve anything. or so says the american dream. in 2014, the average income in the states was $66,100, which sounds quite high. but if you look a little closer, for half of the country's adults -- so around 117 million people